Bitcoin Forum

This news (https://punchng.com/cbn-plans-regulatory-framework-for-cryptocurrencies/) is two days old, but I have not seen it on this board is the reason I decided to create a thread about it. In a report on ‘Nigeria payments system vision 2025 (https://www.cbn.gov.ng/Out/2022/CCD/PSMD%20vision%202025%20EDITED%20FINAL.pdf)’, CBN disclosed that it is going to bring up a regulatory policy framework for the implementation of cryptocurrencies (stable coin) in the country.

This can be seen under Executive Summay, List of Payments SystemVision 2025 Recommendation. Page 17, number 5:


Which means CBN wants to focus on stable coins is all that came my mind, or planning CBDC stable coin just like what Hong Kong lawmakers are planning. My guess could be wrong. Although, even without banks we can buy bitcoin.

Ur guest e no dey wrong na di tin dem (9ja) govt dey plan 2 do be dat. Nd dem 4get sae stable coin e no get value reach bitcoin. And their policies go only affect stable coin e no go come near where bitcoin dey so e no concern is. CBN no fit do anything again, and las las im sef go join bitcoin. Di fail transactions case that are in the Fiat banking system with force most people to use bitcoin. And when the use of bitcoin is very high and CBN can't do anything to stop it, then CBN officials will join that is when do adoption will commence. For now they are doging (running) away from bitcoin, but as they are planning to regulate stable coins, stable coins will direct them to bitcoin the father of digital assets.

CBN has not really plan well to develop Nigeria economy but to put obnoxious policies that affect the citizens. Stable coins have nothing to do with we that in bitcoin.

volatility anxiety hahaha well it's a huge step towards crypto adoption if we can achieve this then acquiring bitcoin will be easier because banks will be allowed to deal in stablecoins and the restrictions on Nigeria credit cards will probably be lifted.

I hope the CBN does not intend to issue a stable coin pegged to the value of the Naira, as this would be a disaster in comparison to the E-Naira.

I no dey surprised, personally me think say na peer pressure from the US dey make Nigeria government dey do like dem no dey support this industry because for a country suffering like this and their youth dey see way through crypto investment, I no understand why dem go dey against the growth of the industry for the country especially when na dem go benefit pass. Dem no seat down reason the tax dem go dey chop assuming this country been dey crypto friendly and they welcome startups.

Sha for the mata na positive news oh. Anything wey be or dey like adoption from the country na welcome development oh as e go dey open people eyes plenty and they create more opportunities for we. But  wait oh, dis stablecoin so, na wetin go back am, Naira? Wetin go come be d difference between the normally naira and the stablecoin since Naira himself no stable and dey steadily depreciate as the years dey go by. Dem fit back am with our oil? Because if na still naira backing we fit dey get same story as Enaira.

Same old, same old confused people at the top proposing policies that they cannot see through to the end. I wonder how they just jump into making all these things without trying to measure the progress of their framework. The eNaira is still nothing to write home about. Why don't they consider making it work first before the "development of a regulatory framework for potential implementation of ‘Stable Coin".

Na to hope for progress for this one becos one tin naija dey good at nah to start somtin wey along the line dem go drop. The E-naira palava just go chill for one side and if I no beta, I for say we govt no reali know wetin to do.
 As per the regulation of CBN on cryptos, na beta news but I still dey look am wan way, becos we know say we govt bin any crypto related business since dem feel say na avenue for pipo to launder moni and support terrorism. Make we dey look how dis one go be.

With the high rate of CEX scams and bankruckcy, any country would find it difficult to legalize or adopt cryptyo right now. Planning on adopting stsblecoin is a wise move, but we shouldn't expect much as long as the current CBN Governor regulates both security and financial market assets.


Pegging to the Naira's value is the same as creating an altcoin. A stablecoin can also be pegged to the value of a commodity, but what stable commodity do we have? cruide? lol